A "Grand" Problem
August 11, 2011 8:27 AM Subscribe
Could you come up with $1,000 in cash if you had to? The National Foundation for Credit Counselling says that almost two-thirds of Americans can't.
36% of 2,700 respondents to an online poll by the NFCC said that they'd get the money from their savings if they were hit with an emergency. The rest would have to resort to other means: borrowing from the "Three Fs" (friends, family and fools; 17%), not paying other monthly expenses (such as rent; 17%), selling/pawning stuff (12%), putting it on a credit card (9%) or taking out a loan from the bank (9%).
Keep in mind that it's an online poll, and there's some likely sample bias; I'm sure there are rich people who need credit counselling, but I'd bet most of the NFCC's visitors have "average" incomes or lower. Still, I find this sort of financial crisis far scarier, if less reported, than the downgrading of the U.S. credit rating by S&P. Would the sudden need to cough up a grand -- which is in the ballpark for what a roof, car or plumbing repair would cost, or what a small medical, dental or deadbeat housemate emergency would set you back -- put you in debt?
36% of 2,700 respondents to an online poll by the NFCC said that they'd get the money from their savings if they were hit with an emergency. The rest would have to resort to other means: borrowing from the "Three Fs" (friends, family and fools; 17%), not paying other monthly expenses (such as rent; 17%), selling/pawning stuff (12%), putting it on a credit card (9%) or taking out a loan from the bank (9%).
Keep in mind that it's an online poll, and there's some likely sample bias; I'm sure there are rich people who need credit counselling, but I'd bet most of the NFCC's visitors have "average" incomes or lower. Still, I find this sort of financial crisis far scarier, if less reported, than the downgrading of the U.S. credit rating by S&P. Would the sudden need to cough up a grand -- which is in the ballpark for what a roof, car or plumbing repair would cost, or what a small medical, dental or deadbeat housemate emergency would set you back -- put you in debt?
This post was deleted for the following reason: Online polls aren't great footing for a post in general, and explicit How About You discussion prompts really aren't the way to go in framing a post in any case. -- cortex
The other 2/3rds of americans can but not from their savings account.
posted by blue_beetle at 8:32 AM on August 11, 2011
posted by blue_beetle at 8:32 AM on August 11, 2011
Today? Yes. Three weeks ago? No. A week before that? Yes. A month from now? Who can say?
posted by penduluum at 8:34 AM on August 11, 2011 [8 favorites]
posted by penduluum at 8:34 AM on August 11, 2011 [8 favorites]
How about people so poor they cannot afford having Internet? Or simply people who don't visit NFCC? Yeah, I wouldn't put much faith in this or any other online poll.
posted by Foci for Analysis at 8:34 AM on August 11, 2011
posted by Foci for Analysis at 8:34 AM on August 11, 2011
The other 2/3rds of americans can but not from their savings account.
The point is that 2/3rds of the populace couldn't come up with it on their own. Anyone with a brick and a bit of desperation can come up with a thousand dollars worth of something in a fairly short period of time. (see: current events)
posted by FatherDagon at 8:35 AM on August 11, 2011 [1 favorite]
The point is that 2/3rds of the populace couldn't come up with it on their own. Anyone with a brick and a bit of desperation can come up with a thousand dollars worth of something in a fairly short period of time. (see: current events)
posted by FatherDagon at 8:35 AM on August 11, 2011 [1 favorite]
"99% of respondents to a justinbieber.com poll reported a love of Justin Bieber"
posted by East Manitoba Regional Junior Kabaddi Champion '94 at 8:35 AM on August 11, 2011 [26 favorites]
posted by East Manitoba Regional Junior Kabaddi Champion '94 at 8:35 AM on August 11, 2011 [26 favorites]
Oh hey we just went through this. Husband's root canal/caps blew through our limit to put a few thou on the credit card. We're paying it off. If getting medical care on one's teeth was not stupidly segregated from care for all the rest of one's body, our medical coverage would have taken care of it and we'd have that 1k.
But hey, it's too hard to recognize dentistry as just another form of medical care, so fuck us.
posted by emjaybee at 8:36 AM on August 11, 2011 [10 favorites]
But hey, it's too hard to recognize dentistry as just another form of medical care, so fuck us.
posted by emjaybee at 8:36 AM on August 11, 2011 [10 favorites]
So what's defined as "savings"? I find it kind of hard to believe that the number of people with $1,000 in a non-savings account or cash is so low as to be statistically zero.
posted by Holy Zarquon's Singing Fish at 8:36 AM on August 11, 2011
posted by Holy Zarquon's Singing Fish at 8:36 AM on August 11, 2011
But the personal savings rate is on the rise after hitting historic lows in the first decade of this century. Meanwhile, the business sector is banking much larger percentages of their profits instead of reinvesting or hiring, which is what the economy desperately needs.
posted by crunchland at 8:37 AM on August 11, 2011
posted by crunchland at 8:37 AM on August 11, 2011
How much of an emergency are we talking about? Do I have time to let it dry properly?
posted by Horace Rumpole at 8:37 AM on August 11, 2011 [10 favorites]
posted by Horace Rumpole at 8:37 AM on August 11, 2011 [10 favorites]
I, for one, have little sympathy. I can easily come up with $1K in cash at a moment's notice. I mean, I'm young, white, well-educated, childless, from a solidly middle-class background, with no meaningful medical expenses or other emergencies, with a well-paying job that has no immediate risk of a layoff. If I can make sensible responsible choices like that, having not taken big government handouts, why can't everyone else do the same?
posted by Tomorrowful at 8:38 AM on August 11, 2011 [55 favorites]
posted by Tomorrowful at 8:38 AM on August 11, 2011 [55 favorites]
No, but I consider myself upwardly mobile in that I am no longer shoplifting from the grocery store.
posted by shakespeherian at 8:38 AM on August 11, 2011 [17 favorites]
posted by shakespeherian at 8:38 AM on August 11, 2011 [17 favorites]
Seeing as I'm going to have to get a payday loan tomorrow in order to pay my rent (late), I'll have to chime in with a "no." I guess that makes me one of the "Well-meaning individuals who are already living on the financial edge [who] may never be able to catch up, exacerbating the problem for months or years down the road." Oh well.
posted by Gator at 8:40 AM on August 11, 2011 [2 favorites]
posted by Gator at 8:40 AM on August 11, 2011 [2 favorites]
I would be very interested in a scientifically sound poll on this topic.
posted by DU at 8:40 AM on August 11, 2011 [3 favorites]
posted by DU at 8:40 AM on August 11, 2011 [3 favorites]
Internet study says that 76% of all statistics are completely made up.
posted by crunchland at 8:44 AM on August 11, 2011
posted by crunchland at 8:44 AM on August 11, 2011
I got laid off last year and ended up borrowing about 3 grand from my parents, because I had no savings. I learned my lesson, and I've been living like a hermit for the last year. Car paid off, living in a less expensive city, and probably most importantly, quitting going out to clubs every weekend, means that in a year I paid them back and now have enough to live on for 6 months if I get laid off again.
posted by empath at 8:44 AM on August 11, 2011 [5 favorites]
posted by empath at 8:44 AM on August 11, 2011 [5 favorites]
Today? Yes. Three weeks ago? No. A week before that? Yes. A month from now? Who can say?
posted by penduluum at 11:34 AM on August 11 [1 favorite +] [!]
Eponysterical!
posted by dabug at 8:47 AM on August 11, 2011 [11 favorites]
posted by penduluum at 11:34 AM on August 11 [1 favorite +] [!]
Eponysterical!
posted by dabug at 8:47 AM on August 11, 2011 [11 favorites]
All this means is that those who do have $1k are closer to being in the top 1%. The dream yet lives!
posted by Winnemac at 8:47 AM on August 11, 2011 [5 favorites]
posted by Winnemac at 8:47 AM on August 11, 2011 [5 favorites]
I pay $452 a month in student loans. These payments end in October. I plan to sock away half for savings/paying down debt. The other half I plan to use to spend on things I need that I've been putting off.
I am seriously going to feel rich once I see that loan go away.
My answer is no, I can't put my hands on that kind of money without going to family or credit cards, but ask me again in three months.
posted by cjorgensen at 8:52 AM on August 11, 2011
I am seriously going to feel rich once I see that loan go away.
My answer is no, I can't put my hands on that kind of money without going to family or credit cards, but ask me again in three months.
posted by cjorgensen at 8:52 AM on August 11, 2011
I've been saving 15% of my paycheck for the last year+, finally got just over two grand saved. Then my car died. And by died I mean that I couldn't afford to have it fixed up to pass smog (even though it's emissions were just fine). So I had to buy a car in order to continue working. Back to square one!
But hey, what's a cushion for?
posted by Garm at 8:53 AM on August 11, 2011
But hey, what's a cushion for?
posted by Garm at 8:53 AM on August 11, 2011
I count my lucky stars every single day.
posted by ged at 8:53 AM on August 11, 2011 [2 favorites]
posted by ged at 8:53 AM on August 11, 2011 [2 favorites]
East Manitoba Regional Junior Kabaddi Champion '94 : "99% of respondents to a justinbieber.com poll reported a love of Justin Bieber"
Truly beautiful (no sarcasm intended), but too subtle, I fear...
Translation: Do you all suppose we may have just the teensiest bit of sample bias in asking regular visitors to "The National Foundation for Credit Counselling" about coming up with a modest amount of cash on short notice?
posted by pla at 8:55 AM on August 11, 2011
Truly beautiful (no sarcasm intended), but too subtle, I fear...
Translation: Do you all suppose we may have just the teensiest bit of sample bias in asking regular visitors to "The National Foundation for Credit Counselling" about coming up with a modest amount of cash on short notice?
posted by pla at 8:55 AM on August 11, 2011
I don't trust any poll not conducted by the firm of Widgery and Associates.
posted by inturnaround at 8:58 AM on August 11, 2011
posted by inturnaround at 8:58 AM on August 11, 2011
So what's defined as "savings"? I find it kind of hard to believe that the number of people with $1,000 in a non-savings account or cash is so low as to be statistically zero.
Perhaps I'm missing something, but what other options are there? I mean, checking accounts are almost by definition meant to have fluctuating balances, and I would assume having a steady $1000+ cash on hand counts as savings, whether it's in a bank, a safe, or a mattress.
FWIW, I'm in essentially the same boat as Tomorrowful (who appears--hopefully--to be engaging in a bit of parody), so I not only have savings, I also budget a large amount (~25% of monthly wages) under my earnings, and that's after taxes, insurance, and maxed-out 401k matchable deductions, with that remainder going to savings and the occasional. But then again, I was raised in a privileged (and I mean that mostly in a self-deprecating way) enough environment that a lot of, if not most, Americans don't have access to. And even given all of that, I was money-dumb enough that none of that started to happen until a couple years ago, after I'd been in the post-college workforce for enough time to (a) be earning a salary that allowed for that to happen, and (b) remove most of my existing debt. I also lost my car in a crash 6 months ago, and socked away the money from that into savings and investments instead of buying a new one.
posted by zombieflanders at 8:59 AM on August 11, 2011
Perhaps I'm missing something, but what other options are there? I mean, checking accounts are almost by definition meant to have fluctuating balances, and I would assume having a steady $1000+ cash on hand counts as savings, whether it's in a bank, a safe, or a mattress.
FWIW, I'm in essentially the same boat as Tomorrowful (who appears--hopefully--to be engaging in a bit of parody), so I not only have savings, I also budget a large amount (~25% of monthly wages) under my earnings, and that's after taxes, insurance, and maxed-out 401k matchable deductions, with that remainder going to savings and the occasional. But then again, I was raised in a privileged (and I mean that mostly in a self-deprecating way) enough environment that a lot of, if not most, Americans don't have access to. And even given all of that, I was money-dumb enough that none of that started to happen until a couple years ago, after I'd been in the post-college workforce for enough time to (a) be earning a salary that allowed for that to happen, and (b) remove most of my existing debt. I also lost my car in a crash 6 months ago, and socked away the money from that into savings and investments instead of buying a new one.
posted by zombieflanders at 8:59 AM on August 11, 2011
No, I wouldn't be able to come up with $1000. Not without going to my parents or inlaws.
posted by Sweetmag at 9:06 AM on August 11, 2011
posted by Sweetmag at 9:06 AM on August 11, 2011
$1000 in cash is the difference between living paycheck to paycheck, and having one paycheck in the bank.
posted by smackfu at 9:10 AM on August 11, 2011 [2 favorites]
posted by smackfu at 9:10 AM on August 11, 2011 [2 favorites]
Translation: Do you all suppose we may have just the teensiest bit of sample bias in asking regular visitors to "The National Foundation for Credit Counselling" about coming up with a modest amount of cash on short notice?
I think the question then becomes, do we think these results are then indicative of the true picture, and if not, then what is that true picture. Quite honestly, just from people I know, I wouldn't be surprised if it's still around the same percentage for the general public, or even higher, who don't have that $1000.
posted by bizzyb at 9:12 AM on August 11, 2011
I think the question then becomes, do we think these results are then indicative of the true picture, and if not, then what is that true picture. Quite honestly, just from people I know, I wouldn't be surprised if it's still around the same percentage for the general public, or even higher, who don't have that $1000.
posted by bizzyb at 9:12 AM on August 11, 2011
Perhaps I didn't state it strongly enough in the intro, but yes, people who are answering a poll on a credit counselling site are likely to be the sort who can't come up with $1K in cash without a loan/credit card/pawn shop. But given that the increase in consumer borrowing hit a record earlier this summer -- it went up by almost $16 billion, which is three times what was projected by the Fed -- it's likely that there's a significant chunk fo the population who might be hard-pressed to come up with $1,000 cash in an emergency.
posted by AccordionGuy at 9:14 AM on August 11, 2011 [1 favorite]
posted by AccordionGuy at 9:14 AM on August 11, 2011 [1 favorite]
"It’s also noteworthy that online polls like this one aren’t necessarily as random (or accurate) as those conducted over the phone...."
But, let's write an article about it anyway...
That part I understand, what I don't get is why the smart people at MetaFilter are talking about it, we know better.
posted by tomswift at 9:15 AM on August 11, 2011 [1 favorite]
But, let's write an article about it anyway...
That part I understand, what I don't get is why the smart people at MetaFilter are talking about it, we know better.
posted by tomswift at 9:15 AM on August 11, 2011 [1 favorite]
The framing and editorializing in the last part of the FPP is weird and seems like a chatfilter AskMe.
posted by desjardins at 9:17 AM on August 11, 2011 [1 favorite]
posted by desjardins at 9:17 AM on August 11, 2011 [1 favorite]
The polling-the-audience part is the first step in an elaborate robbery scheme.
posted by box at 9:19 AM on August 11, 2011 [2 favorites]
posted by box at 9:19 AM on August 11, 2011 [2 favorites]
You want a grand? I can get you a grand, believe me. There are ways, man. You don't wanna know about it, believe me. I can get you a grand by 3 today.
(I would love to see the stats on coming up with say $10,000, would it even be 5%?)
posted by 2bucksplus at 9:19 AM on August 11, 2011 [2 favorites]
(I would love to see the stats on coming up with say $10,000, would it even be 5%?)
posted by 2bucksplus at 9:19 AM on August 11, 2011 [2 favorites]
From the article: "In another recent survey, just 24% of Americans reported having a six-month emergency fund"
So 24% have 6 months of expenses, but 36% only have $1000 on hand. That doesn't really pass the smell test.
posted by smackfu at 9:19 AM on August 11, 2011
So 24% have 6 months of expenses, but 36% only have $1000 on hand. That doesn't really pass the smell test.
posted by smackfu at 9:19 AM on August 11, 2011
Hey, box: ix-nay on the am-scay!
posted by AccordionGuy at 9:20 AM on August 11, 2011
posted by AccordionGuy at 9:20 AM on August 11, 2011
Yo, I guess today is "America is Fucked" day on mefi, yeah?
posted by hellojed at 9:21 AM on August 11, 2011 [1 favorite]
posted by hellojed at 9:21 AM on August 11, 2011 [1 favorite]
It would be interesting to run this as a poll here on MeFi, like we did with the shoes on/shoes off question and "how do you pronounce MeFi" from a way back.
posted by Admiral Haddock at 9:22 AM on August 11, 2011
posted by Admiral Haddock at 9:22 AM on August 11, 2011
Keep in mind that it's an online poll, and there's some likely sample bias; I'm sure there are rich people who need credit counselling, but I'd bet most of the NFCC's visitors have "average" incomes or lower. Still, I find this sort of financial crisis far scarier, if less reported, than the downgrading of the U.S. credit rating by S&P.
In other words, you know the poll isn't valid, but it gave you an opportunity to put your opinion in an FPP? Flagged for deletion.
posted by John Cohen at 9:25 AM on August 11, 2011 [1 favorite]
In other words, you know the poll isn't valid, but it gave you an opportunity to put your opinion in an FPP? Flagged for deletion.
posted by John Cohen at 9:25 AM on August 11, 2011 [1 favorite]
I would hate to have my work peer-reviewed by meta-filter, this place is brutal.
posted by Stagger Lee at 9:25 AM on August 11, 2011 [3 favorites]
posted by Stagger Lee at 9:25 AM on August 11, 2011 [3 favorites]
Could you come up with $1,000 in cash if you had to?
Choosing to ask others to sacrifice before cracking open your own savings is sometimes a smart move. We might put $1K on a credit card just for the immediacy of the cash and to allow for a more strategic repayment: In other words, if we spend $1K today, that may be possible, but we would rather the cushion be larger in case tomorrow is a big issue - where we might have to come up with $3K (or $6K, or $whateverK). Regardless, putting it on the credit card is fine - the balance is zero, and the funds are there to cover and prevent any monthly carryover balance - even with an immediate $1K purchase.
Strategically, putting it on the card means that we have time to respond and ensure that we can rebuild that $1K savings as quickly as possible: be it opting to put off a few "nice to haves" in the grocery cart for a few weeks, not going out to dinner, opting not to take a long trip, to not go to a baseball game, making due with a few dourable good necessities a little bit longer than we wanted to (co-workers can't see my dingy undershirts, and our old tube TV still shows TDS just fine - even if there is a slight discoloration on the right hand side of the screen), or even opting not to pay off a little extra on the student loans...
Now, once the card gets paid down (first of the month) and the savings rebuilds, if its time to drop $1K on a TV (Slated: February 2012, anticipated to be a number much less than $1K, well after the holidays, and significantly post-maternity for my wife), then we make the purchase. If something happens between now and then that drains out that planned $1K expense, we may opt to hold out a little longer or buy a smaller TV. If it goes before then, well... we already have the cushion.
posted by Nanukthedog at 9:26 AM on August 11, 2011
Choosing to ask others to sacrifice before cracking open your own savings is sometimes a smart move. We might put $1K on a credit card just for the immediacy of the cash and to allow for a more strategic repayment: In other words, if we spend $1K today, that may be possible, but we would rather the cushion be larger in case tomorrow is a big issue - where we might have to come up with $3K (or $6K, or $whateverK). Regardless, putting it on the credit card is fine - the balance is zero, and the funds are there to cover and prevent any monthly carryover balance - even with an immediate $1K purchase.
Strategically, putting it on the card means that we have time to respond and ensure that we can rebuild that $1K savings as quickly as possible: be it opting to put off a few "nice to haves" in the grocery cart for a few weeks, not going out to dinner, opting not to take a long trip, to not go to a baseball game, making due with a few dourable good necessities a little bit longer than we wanted to (co-workers can't see my dingy undershirts, and our old tube TV still shows TDS just fine - even if there is a slight discoloration on the right hand side of the screen), or even opting not to pay off a little extra on the student loans...
Now, once the card gets paid down (first of the month) and the savings rebuilds, if its time to drop $1K on a TV (Slated: February 2012, anticipated to be a number much less than $1K, well after the holidays, and significantly post-maternity for my wife), then we make the purchase. If something happens between now and then that drains out that planned $1K expense, we may opt to hold out a little longer or buy a smaller TV. If it goes before then, well... we already have the cushion.
posted by Nanukthedog at 9:26 AM on August 11, 2011
Yo, I guess today is "America is Fucked" day on mefi, yeah?
It isn't "America Is Fucked Day" in real life? Where have you been?
posted by blucevalo at 9:27 AM on August 11, 2011 [7 favorites]
It isn't "America Is Fucked Day" in real life? Where have you been?
posted by blucevalo at 9:27 AM on August 11, 2011 [7 favorites]
Actually, it's not clear whether they mean that this is a totally unrepresentative poll conducted on the NFCC's site, or whether it's an online poll they paid to have conducted through a research company, who would be using an online research panel.
Online panels aren't perfect, but they are much better than self-selected site surveys, and can be set up to be demographically representative even though the online population as a whole is not.
Online research, like phone research, still has an underlying handicap (people who answer surveys are different from the general population in that they answer surveys, so it stands to reason they would differ in other ways, but no one knows how), but it's way better than just putting a poll on your site. It's not clear what this article means by "online poll".
posted by Wylla at 9:29 AM on August 11, 2011
Online panels aren't perfect, but they are much better than self-selected site surveys, and can be set up to be demographically representative even though the online population as a whole is not.
Online research, like phone research, still has an underlying handicap (people who answer surveys are different from the general population in that they answer surveys, so it stands to reason they would differ in other ways, but no one knows how), but it's way better than just putting a poll on your site. It's not clear what this article means by "online poll".
posted by Wylla at 9:29 AM on August 11, 2011
Stagger Lee: Compared to a lot of other places online, MeFi is a Sunday school picnic for Barry Manilow fans. I can deal.
posted by AccordionGuy at 9:30 AM on August 11, 2011
posted by AccordionGuy at 9:30 AM on August 11, 2011
Could you come up with $1,000 in cash if you had to?
If it means you'll stop sleeping on my couch, yes.
posted by ZenMasterThis at 9:30 AM on August 11, 2011
If it means you'll stop sleeping on my couch, yes.
posted by ZenMasterThis at 9:30 AM on August 11, 2011
your a generous friend, a cot and a cool grand to boot, with.
posted by clavdivs at 9:36 AM on August 11, 2011
posted by clavdivs at 9:36 AM on August 11, 2011
No, but I could get you a toe
posted by thelonius at 9:36 AM on August 11, 2011 [5 favorites]
posted by thelonius at 9:36 AM on August 11, 2011 [5 favorites]
Yo, I guess today is "America is Fucked" day on mefi, yeah?
I was going to say 'Wow, there are a lot of great posts today,' but we kinda mean the same thing.
posted by box at 9:39 AM on August 11, 2011 [1 favorite]
I was going to say 'Wow, there are a lot of great posts today,' but we kinda mean the same thing.
posted by box at 9:39 AM on August 11, 2011 [1 favorite]
It would be interesting to run this as a poll here on MeFi, like we did with the shoes on/shoes off question and "how do you pronounce MeFi" from a way back.
There was a poll on this? Does anyone else call it "miffy?"
And if we're taking a new poll, the answer is no. Not for the last year and a half, at least.
posted by zylocomotion at 9:42 AM on August 11, 2011
After the last week on Wall Street, I'm afraid to even look at my 401k balance. Thanks, Tea Party!
posted by crunchland at 9:45 AM on August 11, 2011 [1 favorite]
posted by crunchland at 9:45 AM on August 11, 2011 [1 favorite]
This completely contradicts a recent poll on VentureCapitalistsOnly.org, which states that 97% of Americans can come up with $2 million or more at a moments notice.
posted by rh at 9:46 AM on August 11, 2011 [2 favorites]
posted by rh at 9:46 AM on August 11, 2011 [2 favorites]
Actually, it's not clear whether they mean that this is a totally unrepresentative poll conducted on the NFCC's site, or whether it's an online poll they paid to have conducted through a research company, who would be using an online research panel.
The former: "Note: The NFCC's July Financial Literacy Opinion Index was conducted via the homepage of the NFCC Web site (www.DebtAdvice.org) from July 1 - 31, 2011 and was answered by 2,667 individuals."
posted by smackfu at 9:46 AM on August 11, 2011 [1 favorite]
The former: "Note: The NFCC's July Financial Literacy Opinion Index was conducted via the homepage of the NFCC Web site (www.DebtAdvice.org) from July 1 - 31, 2011 and was answered by 2,667 individuals."
posted by smackfu at 9:46 AM on August 11, 2011 [1 favorite]
And this is why you shouldn't get in debt to Tony Soprano.
posted by Afroblanco at 9:50 AM on August 11, 2011
posted by Afroblanco at 9:50 AM on August 11, 2011
With $93 in savings as of today, no. BUT my goal is to pay off $6k in 12 months. So if I'm doing that, then I would say that I know I can do it w/in 2 months.
But the point does still stand, the majority of Americans should have an extra $1k for an emergency. I remember the days when I got a $20 allowance/gift. I just put it in my drawer. My mom was rearranging my drawer and saw I had stacks of $20s---$500 worth just sitting there.
I wish for those days again. Just went to Walmart yesterday and droped $50 on kid's toys for bday gifts. WTH?
posted by stormpooper at 9:51 AM on August 11, 2011 [1 favorite]
But the point does still stand, the majority of Americans should have an extra $1k for an emergency. I remember the days when I got a $20 allowance/gift. I just put it in my drawer. My mom was rearranging my drawer and saw I had stacks of $20s---$500 worth just sitting there.
I wish for those days again. Just went to Walmart yesterday and droped $50 on kid's toys for bday gifts. WTH?
posted by stormpooper at 9:51 AM on August 11, 2011 [1 favorite]
Thanks, smackfu - I was stupidly looking for some clarification in the text of the article itself!
posted by Wylla at 9:51 AM on August 11, 2011
posted by Wylla at 9:51 AM on August 11, 2011
@crunchland. I made the mistake. Lost $3k
posted by stormpooper at 9:52 AM on August 11, 2011
posted by stormpooper at 9:52 AM on August 11, 2011
That's almost as bad as this recent Telegraph article entitled "Bicycle helmets should not be compulsory, say doctors". That makes it sound like a poll of British doctors found that they didn't support mandatory bike helmet laws. In fact, most respondents to a poll on a medical journal's website said that, but it turns out that lots of bike blogs linked to the poll and suggested that their readers vote in it.
There's a whole lot of total new media illiteracy in the mainstream media, I think.
posted by craichead at 9:56 AM on August 11, 2011
There's a whole lot of total new media illiteracy in the mainstream media, I think.
posted by craichead at 9:56 AM on August 11, 2011
It would be interesting to run this as a poll here on MeFi, like we did with the shoes on/shoes off question and "how do you pronounce MeFi" from a way back.
posted by Admiral Haddock at 9:22 AM on August 11 [+] [!]
Good lord. I still haven't recovered from the 'sit or stand' wiping poll.
Half of you are MONSTERS.
posted by FatherDagon at 9:57 AM on August 11, 2011 [1 favorite]
posted by Admiral Haddock at 9:22 AM on August 11 [+] [!]
Good lord. I still haven't recovered from the 'sit or stand' wiping poll.
Half of you are MONSTERS.
posted by FatherDagon at 9:57 AM on August 11, 2011 [1 favorite]
You know, though I understand the apprehension based on where they survey came from, I'd be really surprised if, even with a better methodology, if the numbers were any different/better. In fact, part of me is surprised the number of those who have it is so high.
I wish there was some way to make it easier for people to get the $1000 safety net obviously, because, you know, not a bastard. As someone who has been (and still sometimes) straddles the line, let me tell you -- it's the best $1000 you'll ever not spend. The ability to go to bed knowing you can buy groceries and pay your bills is worth every penny (probably because you can actually get to sleep)
posted by MCMikeNamara at 9:58 AM on August 11, 2011 [1 favorite]
I wish there was some way to make it easier for people to get the $1000 safety net obviously, because, you know, not a bastard. As someone who has been (and still sometimes) straddles the line, let me tell you -- it's the best $1000 you'll ever not spend. The ability to go to bed knowing you can buy groceries and pay your bills is worth every penny (probably because you can actually get to sleep)
posted by MCMikeNamara at 9:58 AM on August 11, 2011 [1 favorite]
There is only one right answer to this question, and that is "no."
posted by rahnefan at 9:58 AM on August 11, 2011
posted by rahnefan at 9:58 AM on August 11, 2011
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posted by bizzyb at 8:31 AM on August 11, 2011 [2 favorites]